Identify the accounting concept that was violated in each of the following situations.
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Business, 04.02.2020 05:48, patrickdolano
Identify the accounting concept that was violated in each of the following situations.
1. astro turf company recognizes an expense, cost of goods sold, in the period the product is manufactured.
2. mccloud drug company owns a patent that it purchased three years ago for $2 million.
3. the controller recently revalued the patent to its approximate market value of $8 million.
4. philips company pays the monthly mortgage on the home of its president, larry crosswhite, and charges the expenditure to miscellaneous expense.
Answers: 3
Business, 22.06.2019 06:40, Amber423
As a finance manager at allsports communication, charlie worries about the firm's borrowing requirements for the upcoming year. he knows the benefit of estimating allsports' cash disbursements and short-term investment expectations. facing these concerns, a(n) would provide charlie with valuable information by providing a good estimation of whether the firm will need to do short-term borrowing. capital budget cash budget operating budget line item budget
Answers: 3
Business, 22.06.2019 10:40, jonnaevans4856
You were able to purchase two tickets to an upcoming concert for $100 apiece when the concert was first announced three months ago. recently, you saw that stubhub was listing similar seats for $225 apiece. what does it cost you to attend the concert?
Answers: 1
Business, 22.06.2019 17:10, alexwlodko
Storico co. just paid a dividend of $3.15 per share. the company will increase its dividend by 20 percent next year and then reduce its dividend growth rate by 5 percentage points per year until it reaches the industry average of 5 percent dividend growth, after which the company will keep a constant growth rate forever. if the required return on the company’s stock is 12 percent, what will a share of stock sell for today?
Answers: 1
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